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Spot Brent Crude Oil

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Support and Resistance For Brent Crude Oil (UKOIL)Strong resistance for UKOIL is at level 86.55 and currently rejected. As we can see, the intermediate uptrendline also broken. So, right now Brent Crude Oil on bearish direction. The support level are at 84.36, 82.22, 79.84 and 77.02. Meanwhile current resistance level are at 86.55, 87.34 and 91.85.

by ichivergence_hunter

BRENT OIL TRADE IDEA (21-25 Aug)TRADE IDEA (21-25 Aug) NEUTRAL (RANGE BOUND) Target 1 hit last week BEARISH Candle formed on Weekly timeframe Price seems to be showing signs of exhaustion would consider a SHORT on a close and hold below 4H BOS UPSIDE A break and hold above 4H BOS level could target the 88.00 level

by Yellow_Boxes

Updated

Double top formed on Brent 1H As you can see a double top formed on a 1h confirmed on 15m and 5m TF price did not come back to retest so we look for shorts TP @ support level

Short

by ikraamiky

Brent oil is having a tough time.For 40 weeks now, Brent quotes cannot or do not want to leave the corridor between the levels of 70.83-86.32. And it looks like now the decline is possible to the lower limit. The nearest level that can provide resistance now is 84.40. I propose to pay attention to it, and after the breakdown, it is very likely that we will get the opportunity to open a sale.

by aleksandr_shirin

Live Trading Session 234: Potential Trades on GBP,Brent & more In this live trading session video,we look at potential trades setting up for the week on GBPUSD,S&P 500,Brent Oil,Bitcoin and many more.

18:09

by masterthemarkets2010

Updated

DeGRAM | UKOIL bearish pressure UKOIL dropped from the resistance at 88.00 and 87.00, which is a psychological level as well. Price made lower lows and lower closes. If the market retraces back to the resistance level at 86.00 We anticipate a pullback and bearish move since the market has dropped from this level before. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!

Short

by DeGRAM

Brent Oil to move lower Last weeks Weekly Doji Candle close was a sign that that market was turning from Bullish to Bearish. The market has since broken down from its 7 week Bull run. Chinas economic news of its possible recession will send Brent lower. I'll be looking to open a short position. At the moment I'm just waiting patiently to see what happens. I'll post updates here as things move along.

by Neilsh

Updated

double bottom on brent As you can see a double bottom formed on a 1h timeframe , pattern confirmed on a 4h as well. Wait price to break above Neckline for a confirmed buy

Long

by ikraamiky

The forecast came true.Yesterday's forecast for a decline in oil prices came true. After the breakdown of the support level, the quotes went down, but did not reach the target. Nevertheless, I believe that the forecast can be considered successful in view of the presence of a clear opportunity to close the deal with a profit.

by aleksandr_shirin

Brent technical profile.Oil seems to be stuck in the corridor. At the moment, support is the level of 84.40. After the breakdown of this level, there is a possibility of quotes dropping to 83.40.

by aleksandr_shirin

Brent Oil Analysis be ready for getting a great short . because of this heavy resistance . make sure than you are ok with position risks and risk management.

Short

by omid_mt

Updated

Brent crude bullish pullback If the support on the 200-day MA and 50-day MA levels of $81 and $80 holds its ground, I expect brent crude to test the 38.2% Fibo retracement level of $93.50 pb.

Long

by Goose96

Brent 78$ then 105$In my view Brent is forming a reverse H&S pattern right shoulder that could reverse @ 77-78$ area (less likely 74$ area) , my final tp is around 105$ in december

by mpd

BRENT CRUDE OIL BULLISH (with caution) DOJI Candle formed on Weekly timefrme Price seems to be showing signs of exhaustion would consider a SHORT on a close and hold below 4H BOS and ascending trindline. UPSIDE A break and hold above 4H BOS and the 88.00 level could target the 92.00 level

by Yellow_Boxes

Updated

Brent 2H I expect such a path for Brent oil in the 2-hour time frame

by Masoud_Shahverdi

Updated

Update UKOIL 👴📣Update UKOIL I'm doing some tests with a new indicator. In the case of this asset, we may be at a local top at 108.30 and a bottom close to 29.00 , let's follow, I'm testing the new indicator that I developed within the global markets index and I've been getting many positive results. Follow me and share with a friend to encourage me to make the bookmark available to you in the future.

Short

by ftjr20

Brent uptrend exhaustion Context: Weekly – uptrend (UT), one-time-framing up Daily – uptrend Microstructure: Poor highs, poor lows Last day: value moved down Special notes: There are multiple signs of UT exhaustions: shortening of daily trend upthrust, daily volume dries up, last week value area overlaps with previous week Moreover, price is close to monthly resistance cloud. Without some stong bullish news it will be hard to get through it. Conclusion: A swing trader that is still LONG should strongly consider reducing position. At this point it is still too early to flip but risks of staying LONG outweigh potential upside. For a day trader there is still an opportunity to play LONG as daily low high (LH) is still not set. The best risk-reward opportunity for LONG can be found near last week low

by hermes_trisme

Strifor || UKOIL-08/15/2023 Preferred direction: SELL Comment: Oil quotes are at fairly significant daily values. Sale transactions are relevant, and we are just looking for them, however, it is most likely not worth delaying the sale, since a more global picture is most likely in favor of the buyer. Targets for the current short trade are considered at the level of 83.42, not lower. Thank you for like and share your views!

Short

by Viktor_strifor_analyst

Small stop, why don't I give it a try?We can see how the price after an impulsive uptrend corrected to the 0.5 Fibonacci level. At this level we see the interest of a big player and price manipulation. Equal lows were formed. After taking liquidity off these lows we can look at opening a long position to fill the price imbalance. There I will be closing part of the position and waiting for higher targets. Subscribe to the idea so you don't miss updates.

Long

by RifIIrce

Brent Oil to $86-$88 After a 2 month consolidation and accumulation phase (04may-11Jul) and also after breaking various bearish trendlines since the Mar 2022 top Brent Oil has broken upwards to $81.49 this week. I believe Brent Oil will retest the support area around $77-78 over the next week or 2. I'll be looking for entries in the $78 price area for a long to $86-88 region. Stay tuned for updates to this chart over the coming weeks!

Long

by Neilsh

Updated

DeGRAM | UKOIL continuation of trend UKOIL reached resistance, and it's pulling back from it. It is potentially printing the AB=CD pattern where the D point completes right at the fibo cluster level. The market is trading in the ascending channel, indicating the bears are running out of steam and the bulls are in control. We anticipate the continuation of this current trend from the psychological level at 85.00 and the fibo cluster. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!

Long

by DeGRAM

BRENT CRUDE OIL: Chart to watch for inflation progress Brent is up 20% since the last 6 weeks (from 28.06.23) ever since OPEC+ extended production cuts to 2024 recently. www.theguardian.com Would this lead to an upward pressure on the coming months?

by Sujay_fi

Brent - technical profile.Brent oil is testing support at 86.32. I think the price will pass it and go further - perhaps to the level of 83.30.

by aleksandr_shirin

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